{"id":18224,"date":"2022-02-02T14:58:21","date_gmt":"2022-02-02T14:58:21","guid":{"rendered":"https:\/\/fmdqgroup.com\/exchange\/fmdq-becomes-full-member-of-world-federation-of-exchanges\/"},"modified":"2022-04-19T12:04:47","modified_gmt":"2022-04-19T12:04:47","slug":"fmdq-becomes-full-member-of-world-federation-of-exchanges","status":"publish","type":"post","link":"https:\/\/fmdqgroup.com\/exchange\/fmdq-becomes-full-member-of-world-federation-of-exchanges\/","title":{"rendered":"FMDQ Becomes Full Member of World Federation of Exchanges"},"content":{"rendered":"
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Following on the heels of a challenging but productive year in 2021, the year 2022 has commenced with its own share of developments in the Nigerian financial markets, with FMDQ (formerly FMDQ Holdings PLC) transitioning into FMDQ Group PLC<\/strong>. Over the years, FMDQ has evolved from an OTC Market to a full-fledged Securities Exchange, to a budding financial market infrastructure (FMI) Group, now structured as a Securities and Exchange Commission (SEC)-registered Capital Market Holding Company, warehousing five (5) wholly-owned subsidiaries, including FMDQ Securities Exchange Limited (Nigeria\u2019s largest Exchange by Market Turnover \u2013 with an annual average of c. N166 trillion), FMDQ Clear Limited (Nigeria\u2019s only operating Central Counterparty \u2013 with over c. $60 billion derivatives contracts cleared), FMDQ Depository Limited (Nigeria\u2019s integrated Securities Depository), FMDQ Private Markets Limited (Nigeria\u2019s Private Capital Marketplace Organiser) and iQx Consult Limited (an Information Technology Services Company). This change of name is intended to better position the Group to consolidate on its Vision of \u201cTo <\/strong>be the leading African builder of ecosystems of financial infrastructure and services for markets\u201d<\/strong>, and there are no changes to the business operations, governance structure, corporate structure or any other aspect of the business, as a result of this name change.<\/p>\n

Furthermore, in an equally exciting development, FMDQ Group has been admitted as a Full Member of the prestigious World Federation of Exchanges (WFE) after four (4) years of being an Affiliate. The World Federation of Exchanges (WFE) is the global industry group for exchanges and clearinghouses, representing over 250 market infrastructures ranging from those that operate the largest financial centers to those that run frontier markets. The WFE works with standard-setters, policymakers, regulators, and government organizations around the world to support and promote the development of fair, transparent, stable, and efficient markets. The achievement to become one of the over seventy (70) members of WFE indicates the recognition of quality and reliable services offered by FMDQ across its FMI value chain \u2013 Exchange, Central Counterparty, Depository, as one of the criteria for WFE membership is that the FMI plays an active role in the development of their local economy.<\/p>\n

The journey, beginning in 2017, with FMDQ\u2019s acceptance as an Affiliate of WFE, saw the Group successfully scale through the rigorous membership application process, including an onsite inspection at FMDQ\u2019s business complex, Exchange Place, in 2019 and physical interviews with the Securities and Exchange Commission, Nigeria, the Central Bank of Nigeria, FMDQ\u2019s Members and other key market stakeholders, by a delegation of WFE Members, led by Ms. Nandini Sukumar, the Chief Executive Officer of WFE.<\/p>\n

Speaking on this development, Mr. Bola Onadele. Koko, Chief Executive Officer, FMDQ Group said \u201cFMDQ recognizes the importance of forging alliances with key financial market Associations, both domestic and international, to enhance market development and better equip the Group to foster growth and development in the Nigerian financial markets. We are excited to be admitted as a member of the WFE as this not only validates the strides FMDQ has made in the Nigerian financial markets and beyond, but also provides an important and all-encompassing platform for advocacy, research, peer review and reference for international standards, which is required in the actualization of our mandate to make the Nigerian financial markets GOLD \u2013 G<\/strong>lobally Competitive, O<\/strong>perationally Excellent, L<\/strong>iquid and D<\/strong>iverse\u201d.<\/p>\n

This admission bears many progressive implications for FMDQ Group\u2019s market development agenda, particularly for its Exchange and Central Counterparty businesses. Becoming a Member will add credence to FMDQ Securities Exchange\u2019s registration, listing and quotation services, as well as give market stakeholders additional confidence in FMDQ Clear\u2019s central counterparty services, as the membership reflects a stamp of confirmation of FMDQ Group\u2019s commitment to promoting international best practices.<\/p>\n

FMDQ Group is Africa\u2019s first vertically integrated financial market infrastructure group, strategically positioned to provide registration, listing, quotation and noting services; integrated trading, clearing & central counterparty, settlement, and risk management for financial market transactions; depository of securities, as well as data and information services, across the debt capital, foreign exchange, derivatives and equity markets, through its wholly owned subsidiaries \u2013 FMDQ Exchange, FMDQ Clear Limited, FMDQ Depository Limited and FMDQ Private Markets Limited. As a sustainability-focused FMI group, FMDQ Group, through FMDQ Exchange, operates Africa\u2019s premier Green Exchange \u2013 FMDQ Green Exchange \u2013 positioned to lead the transition towards a sustainable future.<\/p>\n

The post FMDQ Becomes Full Member of World Federation of Exchanges<\/a> appeared first on FMDQ Group<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\"\"<\/p>\n

Following on the heels of a challenging but productive year in 2021, the year 2022 has commenced with its own share of developments in the Nigerian financial markets, with FMDQ \u2026<\/p>\n

FMDQ Becomes Full Member of World Federation of Exchanges<\/span> Read More \u00bb<\/a><\/p>\n

The post FMDQ Becomes Full Member of World Federation of Exchanges<\/a> appeared first on FMDQ Group<\/a>.<\/p>\n<\/div>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"page_builder":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-18224","post","type-post","status-publish","format-standard","hentry","category-fmdq-in-the-news"],"_links":{"self":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/posts\/18224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/comments?post=18224"}],"version-history":[{"count":0,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/posts\/18224\/revisions"}],"wp:attachment":[{"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/media?parent=18224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/categories?post=18224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fmdqgroup.com\/exchange\/wp-json\/wp\/v2\/tags?post=18224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}